Risk Free Bets October 2022

Risk Free Sports Betting

Our team at PromoGuy has got bonus discovery and evaluation down to an art. In particular, we understand the benefits a sportsbook risk free bet can bring to your entire gambling adventure.

This guide will first describe what a risk-free bet is and how different bettors can use it to their advantage. Our team will share some expert tips on how you can best use a sportsbook free bet and other sportsbook promos. Among other things, we’ll also share the secret formula that enables us to spot top bonuses every time.

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Compare the best betting sites for 2022

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93/100
Rating
Unibet Bonus
100% up to $10
Unibet Highlights
  • The bonus grants up to $600 after loss (state-dependent)
  • Qualifying bet only $10
  • No promo code needed for offer
Accepts Players in:
Virginia
Virginia
Credit Card
PayNearMe
Skrill
Neteller
100% up to
$10
Unibet Review
***** Visit Site
90/100
Rating
SI Sportsbook Bonus
BET $20 GET $100 IN FREE BETS
SI Sportsbook Highlights
  • Up to $300 in free bets
  • $10 free bet for each of your first 30 bets
  • Free bet tokens have no minimum odds
Accepts Players in:
Virginia
Virginia
Credit Card
PayNearMe
Bank Transfer
Play+
BET $20 GET $100 IN FREE BETS
SI Sportsbook Review
***** Visit Site
80/100
Rating
WynnBET Bonus
Bet $100 Get $100
WynnBET Highlights
  • Multi-sport parlay bonuses
  • Action-packed live bets
  • NFL-approved online sportsbook
Accepts Players in:
Virginia
Virginia
Credit Card
Visa
Mastercard
Bet $100 Get $100
+ Bet $10 Get $10 Casino Bonus
WynnBET Review
***** Visit Site

Who should make use of the comparison? – every sports bettor

If you’re a seasoned online gambler, then you already have an idea of what a sportsbook risk free bet is. In that case, our comparisons will help you identify the most suitable choice for you. If you are unfamiliar with sportsbook bonuses, or betting app promos, this guide will demonstrate how a risk-free bet works and how you can take advantage of it. As you will learn, not all sportsbooks are entirely generous but there are a multitude of betting sites with sign up offers. We have invested significant time and effort to investigate dozens of sportsbooks offering this particular incentive.

How does a Risk Free Bet work?

What is a risk free bet? Gambling means that you accept the risk of losing your money. However, as a welcome incentive, some sportsbooks will remove this risk for first-time bettors. Here’s how it works. After signing up to the sportsbook and making your deposit, you pick an event to bet on. If your bet is successful, you will collect your winnings, including your staked amount. If you lose, the sportsbook will return your stake as site credit or as a free bet. You can then use this money to make more bets. In short, risk free sports betting gives the gambler a safety net to fall on so they can live to wager another day.

Sports Bonus
90/100
SI Sportsbook
Sports Bonus
90/100
BET $20 GET $100 IN FREE BETS
Free Bet
|
Get Bonus

5 ultimate tips for using bonuses – from expert bettors

With a top sportsbook risk free bet offer, gamblers will be able to back their favorite teams without fear. This is a deal that no bettor should miss out on. So, here are a few things you can do to fully enjoy this freebie.

Use eligible deposit methods to unlock the bonus

Online sportsbooks and casinos accept credit cards, bank transfers, and PayPal for deposits. Sometimes eWallets may not be eligible to redeem specific bonuses. So, it’s best to confirm the list of eligible payment methods before depositing. Also, make sure that your deposit amount surpasses the specified minimum.

Use your bonus for high-risk bets

Cautious bettors will always go for the safest bet available and collect whatever returns they can. However, with a sportsbook risk free bet, you can take on less probable markets but come with longer odds. Therefore, let loose and try your luck. The sportsbook will cover your risk.

Make a schedule to use the bonus

Risk free sports betting will make for a magnificent gambling experience, as it gives you an edge. But most sportsbooks stipulate that you must use up your bonus bet within a specific period after redeeming any sportsbook promos. Pick an event to bet on before claiming the bonus so that it all fits your schedule.

Understand how the bonus will be credited

Typically, betting bonuses will be credited to your account as site credits, and you can only use the funds to place bets of your choosing. Sometimes you will receive the bounty as a free bet, which means that it will be a specific amount that you must use on a single wager. You can then plan how to use your free bet effectively. 

Do not deviate from your budget

Bonus or no bonus, make sure that you set a limit on the amount you spend on sports betting. Rewards help to boost your bankroll, but there are no guaranteed wins.

Editor’s recommendation – the best bonus sportsbook - BetMGM

Risk-free sports betting deals bring countless perks for adventure-loving gamblers. One of the best things is that the bonus allows you to explore new and unique gambling opportunities. However, you should bear in mind that not all sportsbooks will deliver top value. Only a few betting sites can hit the home run when it comes to risk-free bets. BetMGM, for example, gives you a great headstart with its welcome bonus. The site will match your first deposit with a risk-free bet of up to $1,000.

After signing up for free at the site and making a minimum deposit of $10, you can then place your bet on a specific event. If you lose, the sportsbook will reimburse you with a free bet matching the amount you wagered. Although you cannot cash out this bonus, you will get a chance to wager again and collect returns. You must use the bonus bet within 7 days of receiving it. The BetMGM sportsbook free bet supports the NHL, the NBA, and famous tennis tournaments. This brand is one of the biggest gaming companies in the United States, and, therefore, quality service is a given.

Sports Bonus
98/100
Caesars
Sports Bonus
98/100
100% up to $1250
Risk-Free Bet
|
Get Bonus

What we look for when reviewing bonuses – our secret sauce

While comparing betting bonuses, we dig deep into the core of each site and consider the not-so-obvious factors. For example, an offer with a 200% match bonus may sound terrific, but we stop to consider the terms and conditions attached. Here are a few more things we look into before recommending sportsbook free bets.

How to get the bonus

Securing a bonus bet shouldn’t make you bleed and sweat. So, we always look at how accessible each promotion is. Sportsbooks set a minimum deposit to unlock the promotion, and the sportsbook may also ask for personal details and a promo code. A reasonable minimum is anything between $10 and $50, and the promo code shouldn’t be hard to locate.

The operator's reputation

It doesn’t really matter how attractive a sportsbook free bet is. We always consider if the operator is legit. Bogus sportsbooks know that the best way to catch unsuspecting players is by offering a huge bonus. We check to see if the site has relevant licensing and look for independent user reviews.

Supported bet types

Sportsbook operators put some constraints on their bonuses to protect themselves from manipulation. The reward may be restricted to just straight bets. However, we look for sites that also allow bettors to place parlays. And it’s also lovely to see sportsbook free bets that are not limited to just a few sports.

Playthrough conditions

This is one of the most critical factors, as it determines the value of the bonus. You must wager the bonus amount the indicated number of times before you can claim a cash payout. We recommend sportsbook risk free bet promotions that have a 1x playthrough. This means that if you use the bonus and win, you can then collect your cash prize.

Finding the right bonus for you – tailored results

PromoGuy offers critical reviews for the best legal sportsbooks and casinos, detailing the various promotions and how players can benefit from each offer. We can help you identify your perfect sportsbook risk free bet promotion. Here is how you can use our easy guides to get a profitable gambling experience that suits your needs.

  • Get the most favorable bonus: You’re likely looking for a risk free sports betting bonus with reasonable wagering requirements. Our bonus comparisons provide comprehensible information on bonuses from different providers, and you can easily pick an operator with the easiest playthrough.
  • Find low-deposit offers: If you are not ready to spend cash like high rollers do, that’s okay. Our comparison will also help you find bonuses that require a minimal minimum deposit.
  • Go through sportsbook reviews: You may want to try out more than one bonus to get more value. However, you can't randomly pick any sites that pop up on your screen. We have listed the legit sites that you can work with.
  • Use the right banking method: Make sure that the bonus supports at least one flexible deposit method convenient for you. From our reviews, you can get a step-by-step guide on redeeming each bonus using different payment methods.

Great bonuses to check out

100% up to
$10
Bonus Code
******
Unibet Bonus Code
***** Get Bonus
Bonus Details
Type:
Risk-Free Bet
Cashable:
yes
Requirements (WR):
1x Bonus
BET $20 GET $100 IN FREE BETS
Bonus Code
******
SI Sportsbook Bonus Code
***** Get Bonus
Bonus Details
Type:
Free Bet
Cashable:
yes
Requirements (WR):
-
Bet $100 Get $100
+ Bet $10 Get $10 Casino Bonus
Bonus Code
******
WynnBET Bonus Code
***** Get Bonus
Bonus Details
Type:
Free Bet
Cashable:
no
Requirements (WR):
-

Overview of bonus types – know what’s out there

Bonuses and promotions are available at all top online gambling sites for sports betting, horse racing, or casino games. The most common welcome offers for sportsbooks are sportsbook deposit bonuses and free bets. Let’s look at the different types of bonuses that new and existing bettors can enjoy.

Match deposit bonus

This is a classic welcome gift that you will also find on most sportsbook platforms. As the name suggests, the sportsbook will match your first deposit with a percent bonus. Your part is to join the sportsbook and make the specific minimum deposit into your account. The site cashier will then credit your account with the bonus, doubling, tripling, or otherwise multiplying your bankroll. The sportsbook specifies the maximum bonus amount you can receive.

Risk free bets and free bets

What is a risk free bet, and how does it differ from a free bet? With a risk free bet, you must place a bet and lose to qualify for the promo. With a free bet, you get to place a wager without the sportsbook deducting the staked amount from your bankroll. These two promos are usually offered as a sports betting welcome bonus. Instead of matching your deposit with site credit, the sportsbook will give you a bonus bet.

Cashback promotions

Although every bettor understands that they will inevitably lose some cash, it’s good to know that they can get some of their money back. Betting sites will, over some time, pay you back a percentage of the stakes you would’ve lost. For example, after spending $100 in a week, you may receive $5, which is a 5% cashback.

Reload bonus

Like the match deposit bonus, the reload bonus will match your deposit with a bonus. However, the difference is that you can receive this bonus in ongoing promotions, and it's not a once-off thing. The idea of a reload is to appreciate players for repeated deposits and wagers.

Loyalty rewards

Unlike a sportsbook risk free bet, loyalty rewards incentives are awarded to players over lengthy periods. Players earn points by performing specific actions, such as making a deposit or placing a wager. The points accumulate over months or even years before the customer can redeem them for unique gifts and other exclusive perks.

Further assistance from PromoGuy

PromoGuy is an essential ingredient in the recipe for a successful sports betting career. In addition to our specific bonus reviews, you can also get some valuable info to help you make crucial gambling decisions. There are several ways to use the website to enhance your bonus usage.

  • You can use our daily picks and find out which bets are hot for that particular day. And if you were planning on claiming a free bet, this would help you decide where to place that bet.
  • Our reviews and guides provide crucial data concerning the legality of sports betting in different states. You can easily find a risk free sports betting bonus that’s available in your state or in a state near you.
  • You will also find our reviews on deposit methods handy. You will learn to manage your funds using the best online payment platforms that pay out fast and charge little or no fees. It’s much easier for you to redeem the various promotions with flexible minimum deposits.
  • Although this might not have a specific connection to how you use your risk free sports betting deal, our reviews and guides will also cover the issue of web design. This will help you select the best-performing sites for a convenient betting experience.
93/100
Rating
Credit Card
Virginia (US) Lottery Board
100% up to
$10
Unibet Sports Bonus
100% up to $10
Unibet Review
***** Visit Site
Highlights
  • The bonus grants up to $600 after loss (state-dependent)
  • Qualifying bet only $10
  • No promo code needed for offer
90/100
Rating
Credit Card
Virginia (US) Lottery Board
BET $20 GET $100 IN FREE BETS
SI Sportsbook Sports Bonus
BET $20 GET $100 IN FREE BETS
SI Sportsbook Review
***** Visit Site
Highlights
  • Up to $300 in free bets
  • $10 free bet for each of your first 30 bets
  • Free bet tokens have no minimum odds
80/100
Rating
Credit Card
Virginia (US) Lottery Board
Bet $100 Get $100
+ Bet $10 Get $10 Casino Bonus
WynnBET Sports Bonus
Bet $100 Get $100
WynnBET Review
***** Visit Site
Highlights
  • Multi-sport parlay bonuses
  • Action-packed live bets
  • NFL-approved online sportsbook

Sportsbook Risk Free Bet FAQ

🆓 Are risk free bets worth it?

In most cases, a sportsbook risk free bet promotion is available to new players when they make their first-ever deposit. Like any other sports or casino bonus, or betting sites with a referral bonus, the free bet has pros and cons. If you're an experienced gambler, you know that promotions come with terms and conditions. Get adequate and accurate info about risk free bets from our guides before you redeem any promo code.

💰 Will a risk-free bet boost my bankroll?

Obviously, no bettor wants to lose their hard-earned cash. There are many strategies you can implement to balance your gambling outcomes. Our guides detail how it’s possible to maintain a rewarding gambling career in the long run. Risk free sports betting deals will pave the way to an exciting and potentially lucrative betting adventure.

🥇 Which sportsbook offers the best risk-free bets?

It is clear that risk free bets pay great dividends, but the most critical question is which site has the best deal. Big and well-established brands tend to offer huge deals with favorable terms. However, you will occasionally come across a novice operator offering a generous risk free sports betting bonus. Another issue is that different gamblers will prefer certain bonuses to others. Check out our list of the top popular betting sites offering great risk-free bets.

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